GMO U.S. Quality ETF (NYSEARCA:QLTY) Hits New 1-Year High – Should You Buy?

Shares of GMO U.S. Quality ETF (NYSEARCA:QLTY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.62 and last traded at $40.62, with a volume of 71914 shares traded. The stock had previously closed at $40.37.

GMO U.S. Quality ETF Stock Up 0.6%

The company has a fifty day moving average price of $38.13 and a 200-day moving average price of $38.35. The stock has a market capitalization of $4.21 billion, a P/E ratio of 56.39 and a beta of 0.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QLTY. HB Wealth Management LLC grew its position in GMO U.S. Quality ETF by 1,078.9% in the first quarter. HB Wealth Management LLC now owns 5,905,175 shares of the company’s stock worth $213,642,000 after acquiring an additional 5,404,269 shares in the last quarter. CENTRAL TRUST Co grew its position in GMO U.S. Quality ETF by 35.7% in the first quarter. CENTRAL TRUST Co now owns 820,980 shares of the company’s stock worth $29,703,000 after acquiring an additional 215,930 shares in the last quarter. Apella Capital LLC purchased a new position in GMO U.S. Quality ETF in the first quarter worth about $6,801,000. Allegheny Financial Group grew its position in GMO U.S. Quality ETF by 64.0% in the first quarter. Allegheny Financial Group now owns 400,548 shares of the company’s stock worth $14,492,000 after acquiring an additional 156,371 shares in the last quarter. Finally, Vicus Capital grew its position in GMO U.S. Quality ETF by 436.9% in the first quarter. Vicus Capital now owns 139,323 shares of the company’s stock worth $5,041,000 after acquiring an additional 113,375 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

About GMO U.S. Quality ETF

The GMO U.S. Quality ETF (QLTY) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund that focuses on equities of high-quality US companies. The funds investments may include companies of any market capitalization. QLTY was launched on Nov 13, 2023 and is issued by GMO.